Suhail Sameer-led OTP Ventures closes maiden fund at Rs 500 crore
18 Feb 2026, 10:45 AMThe fund, which was launched in April 2024, exceeded its original target of raising Rs 400 crore. About Rs 75 crore has been put in by the three partners.
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OTP Ventures, an early stage fund founded by former McKinsey executives Kunal Suri, Saurabh Vashishtha and Suhail Sameer, has closed its maiden fund at Rs 500 crore.
The fund, which was launched in April 2024 and started its fund raising exercise in August 2024, exceeded its original target of raising Rs 400 crore.
The fund saw participation from global as well as Indian institutions , along with select family offices, global and Indian founders, and CEOs/ CXOs from leading technology organisations.
About Rs 75 crore has been put in by the three partners.
Sameer, in a LinkedIn post, wrote, "The first Rs 180-200 crore was easy: founders, ex-colleagues, friends, and fellow VCs. The next few quarters brought mostly rejections."
But, towards the end during August-September 2025, at Rs 250 crore, far from the original target, marked the shift, he posted. "By November, we'd surpassed Rs 400 crore. Even on vacation in Chile, commitments poured in from institutions (including the ones we had given up hope on). Returning home, we hit Rs 600+ crore—and added more to take it to Rs 750 crore by January."
"We eventually chose to only take Rs 500 crore (has to do with our sense of sweet spot fund size to maximise returns to our investors), and ending up having to say no to a few institutions."
The fund plans to partner with about 30 early stage companies building in the consumer space, including technology platforms, brands, financial services.
It has made around 15 investments since its first close in August 2024. Some of these companies include Asaya (personal care brand), Zeelabs (omni-channel pharmacy platform), Liquide (a wealth tech platform), Plush (a feminine hygiene brand).
The fund expects to deploy the remaining capital over the next 18 months. Typical cheque sizes range from Rs 4 crore to Rs 20 crore, with the fund usually leading rounds and targeting a 10-20% ownership stake in portfolio companies.
Before starting the fund, Suri and Vashishtha had previously co-founded the ecommerce platform simsim, which was acquired by Google. Sameer served as CEO of the FMCG business at the RP Sanjiv Goenka group, before joining BharatPe as its CEO. As angel investors, they have backed over 60 companies, including Mamaearth, The Whole Truth, Innovist, Traya, Moxie, among others.
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